Authorizes unallocated power to be used in connection with the St. Lawrence river valley economic development fund

1 Co-sponsor

• Joseph A. Griffo

BILL NUMBER:S5583A

Title of bill

An act to amend the public authorities law, in relation to authorizing unallocated power to be used for the specified purposes

Purpose

This legislation would authorize the allocation of up to twenty megawatts of power from the Saint Lawrence-FDR project to be used for the purposes of the St. Lawrence River Valley Economic Development Fund.

Summary of provisions

Section 1 provides that Section 1005 of the Public Authorities Law is amended by adding four undesignated paragraphs to be the thirteenth, fourteenth, fifteenth and sixteenth undersigned paragraphs of the section.

Undesignated paragraph thirteen provides that up to twenty megawatts of power from the Saint Lawrence-FDR project can be sold in the wholesale market with the net earnings to be used for the purposes of the St. Lawrence River Valley Economic Development Fund. This paragraph also establishes the agency or agencies that shall administer the fund.

Undesignated paragraph fourteen provides the criteria for evaluating the applications seeking to receive awards from the Saint Lawrence River Valley Economic Development Fund.

Undesignated paragraph fifteen provides that the RVRDA Advisory Group, as defined in undesignated paragraph thirteen, shall evaluate the applications and make recommendations to the New York State Power Authority for awards and the terms and conditions of such awards.

Undesignated paragraph sixteen provides that the transfer of benefits is prohibited unless specifically approved by the RVRDA Advisory Group,

Section 2 amends the opening paragraph of Subdivision 13 of section 1005 of the Public Authorities Law so that it is consistent with the new undesignated paragraphs that are added to Section 1005 of the Public Authorities Law in Section 1 of this bill.

Section 3 provides that this act shall take effect immediately.

Justification

In Western New York a program has been in place to allow for the monetization of certain power resources for the benefit of the host communities. But, a program allowing for the monetization of certain power resources in Northern New York has not been established. This legislation creates a program that will allow for the monetization of up to twenty megawatts of unallocated power to be used for the purposes of the Saint Lawrence County Economic Development Fund.

Legislative history

New Bill.

Fiscal implications

Minimal.

Effective date

This act shall take effect immediately.